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Tata Steel Boosts Stake in TM International Logistics

MT Newswires·08/20/2026 11:21:21
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11:21 AM EDT, 08/20/2026 (MT Newswires) -- Tata Steel (TTST.L) completed its purchase of IQ Martrade Holding Und Management's 23% stake in TM International Logistics after securing regulatory approval from the Competition Commission of India. The London-listed steelmaker acquired the stake for 3.35 billion Indian rupees, according to a Thursday filing. The transaction raises Tata Steel's holding in the joint venture to 74%, with NYK Holding Europe owning the remaining 26%. Tata Steel added that its joint venture agreement and deed of adherence with NYK, IQ and the venture will be terminated as of Thursday.